Personal Distribution of Income
The manner in which the economy's personal or disposable income is divided among different income classes or different households or families
Functional Distribution of Income
The manner in which national income is divided among the functions performed to earn it (or the kinds of resources provided to earn it); the division
Durable Goods
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Nondurable Goods
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Services
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Plant
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Firm
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Industry
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Sole Proprietorship
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Partnership
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Corporation
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Stock
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Bond
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Limited Liability
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Principal-Agent Problem
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Monopoly
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Transfer Payments
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Market Intervention
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Taxation
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Externality
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Neg Externality
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Legislation and specific taxes
how to fix neg externality
Positive Externality
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Subsidize consumers and suppliers and provide goods via gov
how to fix pos externality
public goods
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quasi-public goods
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free-rider problem
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unemployment and inflation
promote stability because of
gov purchases
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personal income tax
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marginal tax rate
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average tax rate
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payroll taxes
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corporate income tax
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sales and excise taxes
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property taxes
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